Fuel levy would need to increase by R1 to fund roads As Gauteng drivers protest against e-tolling, a debate on the merits of tolls versus increased fuel levies has been unleashed across the media, twitter and dinner tables. Finance Minister Pravin...
A banking price war is under way and is doing more to drive down bank fees than any government regulation could ever hope to achieve. Recently Standard Bank slashed its banking fees which, it claims, makes its range of transactional accounts...
The announcement of a 15% dividend withholding tax came as a shock to all investors earning dividends, despite Treasury’s claims that it should have been expected. The rate came in 50% higher than market expectations and there was very little...
This week I received a survey on what customers want from their banks. The Speak UP Report commissioned by Capitec aims to "draw attention to what people want from their bank and ultimately help give them what they really need". I have to confess...
Having spent a weekend speaking to over 2000 young women about their finances, the most tweeted comment was “a man is not a financial plan”. This statement resonated not only with the young women in the audience but many of the men working at the...
FNB was the first bank to challenge Capitec in offering a no frills, simple bank account when they launched EasyPlan nearly two years ago. The other banks have followed and are now all aiming to provide low cost banking for under R30 per month. In...
This week I received two separate emails from readers who wanted to know where to invest their money. What made them stand out was that both of them had accumulated substantial money despite mediocre salaries. They had not built their wealth from...
In the 2011 Budget address Finance Minister Gordhan announced that National Treasury was considering a R200 000 cap on the tax deductibility for retirement savings. It is widely expected that this will be addressed in his budget speech on 22...
Fin24’s new product, Dashboard (www.fin24.com) is perfect for the novice who wants to know how to pick shares, how to interpret the figures in a portfolio and when to buy or sell, all using virtual money. So you can have the experience of exposure...
So many people have been caught out by the “get rich quick” advertising of foreign currency trading platforms and have failed to do their homework properly. If you really want to get into foreign currency trading, you can do it for a faction of the...
The unresolved European crisis may have markets reeling but it is creating an opportunity for South African investment managers to bulk up on cheap assets in developed markets. In the last few months major South African investment managers have announced new...
Whenever I land overseas I withdraw some cash at the airport ATM using my credit card. However on my last overseas trip I discovered that my Mastercard was not accepted at the airport’s ATM’s which were all on the Cirrus network. It was a good reminder of the...
Six months ago Barclays Wealth predicted that South African interest rates would increase by 200 basis points by the end of 2012. At that time banks were charging around 115 basis points above their existing rate for clients to fix their mortgage for two years. Today...
This week I was in Johannesburg and was amazed at how busy the shops were. I was told, although I have not confirmed this, that when fashion store Zara opened in Sandton City recently it did a turnover of R2 million in one day. Admittedly Sandton City is patronised by...
Jeremy Gardiner, director, Investec Asset Management looks at the risks of another credit crisis and what it means for SA What a difference a year makes. Back in November 2010, South Africans were still basking in the glory of a world-class World Cup, summer was on...
Nico Coetzee, Executive: Business Development at PPS Investments explains why an investment guarantee is no guarantee at all A guarantee is generally an assurance that sets us at ease when choosing how to spend our money. Most of us won’t mind paying a little more for...
Many consumers are unaware of the fact that their life cover, short-term insurance and retirement annuities may offer retrenchment cover. Auto & General issued a press release this week reminding customers that they offer a premium waiver for six months if the...
In the course of writing the following article for the Mail&Guardian I discovered that medical aids are cutting back on the medications they will pay for as part of their chronic cover. Someone for example who is on Lipitor for hypertension may find next year that...
The head of consumer education at one of the banks was blowing off some steam earlier this week as she lamented about how people never plan for the festive season. “This is an annual event, we know we will be spending money, this does not come as a surprise yet every...
Did you know that if your car gets stuck you can be fined for obstructing traffic, that having a sticker of another country on your car when crossing the border is illegal and using your fog lights on a clear day will cost you R500? The Automobile Association of South...